Wear & Share 2013 Annual Report

Wear & Share is a non-profit corporation governed by a Board of Directors comprised of two members appointed by each of six local churches in the area of Fairfield Bay, including the following: Fairfield Bay Baptist Church, Presbyterian Kirk of the Hills, Faith Lutheran Church, Fairfield Bay United Methodist Church, LCMS, Cornerstone Church and St. Francis Catholic Church. Board officers are elected by the Board of Directors and there are two paid employees consisting of a store manager and an assistant manager. With the exception of these two paid employees, the board members and volunteer workers receive no compensation for their time or services.
During 2013, there were 55 regular volunteers comprising the work force, donating over 7,592 hours of their time and talents to staff and operate the business. This was down considerably from 2012 when we had 68 volunteers and a total of 7,686 hours of service.
Wear & Share derives its income from the sale of donated items which are sold at prices far below their original cost as well as from donations received from various sources. Only items which are clean and in good or working condition are put out onto the floor. Any donated items not meeting those standards are either disposed of or sold in bulk to other organizations.
During 2013, total income was $94,574.67 with in-store sales of $91,697 and a miscellaneous income of $2,428.32. Total cost of operations came to $44,655 (48%). 39% or $36,743.93 was distributed to the various charitable cause listed below, and the remainder was retained for working capital and future capital improvement.
•DHS for rent and household utilities on behalf of 86 applicants
•Animal Protection League
•Fairfield Bay Library
•Food For Life
•Mainstreet Kids
•Care Caps
•Van Buren County Aging Program
•Van Buren County Literacy Council Inc.
•Single Parent Scholarship Fund
•Arkansas Boys Ranch
•Several small miscellaneous contributions
In addition, $3,613 worth of clothing and merchandise from salable inventory was provided for emergency and needy situations.
During the past year, a new propane tank was purchased and installed, new counters and shelving were constructed, the old office was removed, smaller baskets and new phones were purchased and some electronic items are no longer being accepted for sale. While costs of operation continue to rise each year, total sales and charitable donations were also higher over 2012, the silent auctions have proven popular and profitable, and the current cash position is strong.
Wear & Share, Inc. is a registered non-profit organization with the Internal Revenue Service and the State of Arkansas and, as such, its records are open for public inspection. Anyone wishing to examine the records should submit a written request, mailed to Wear & Share, Inc. at P.O. Box 1081, Fairfield Bay, Arkansas 72088.

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